How to Manage Capital Gains Taxes When Selling Property in Florida
When listing a home in Florida, you won’t be subject to state capital gains tax, maximizing your profits. You ought to think about the federal government’s main home exclusion if you've lived there for at least two of the past five years—permitting up to a $500,000 tax exemption for spouses or $250,000 for single filers. Renovations can incre